Cardano launches testnet of its first ERC20 token converter – DiarioBitcoin

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Cardano launches testnet of its first ERC20 token converter - DiarioBitcoin By Hannah perez

The bridge tool was deployed in partnership with SingularityNET, the decentralized artificial intelligence company that contributed to the development of the robot Sophia


The ecosystem of Cardano has obtained its first converter bridge tokens ERC-20 (from the blockchain Ethereum).

IO Global, global engineering company Blockchain and the blockchain developers Cardano, announced on Tuesday the launch of the testnet (testnet) of the AGIX ERC20 converter. The launch of the interoperability tool occurs in partnership with the artificial intelligence firm SingularityNET.

As a result, users of the SingularityNET they will be the first to take advantage of the new product. In this first testing phase, the holders of AGIX, the native token of SingularityNET, they will be able to move their coins to the network Cardano and back to Ethereum through the authorized bridge.

That is, the AGIX ERC-20 tokens in a wallet Ethereum can now be converted and transferred in AGIX-ADA to a wallet Cardano. Users can use wallets like Yoroi, from EMURGO, or Daedalusby IOHK. The official Twitter account of SingularityNET announced the launch on Tuesday. In its tweet, the company invited its users to test the bridge and take advantage of the benefits it offers.

This marks the beginning of a rapidly expanding multi-chain decentralized artificial intelligence ecosystem. Low fees, increased transaction capacity, and improved security – yes please!

Cardano launches bridge for AGIX token, from the company behind the robot Sophia

SingularityNET is a project that seeks to unite the world Blockchain with that of artificial intelligence. Funites as a blockchain-powered artificial intelligence marketplace that aims to enable the monetization of various AI services. Your utility token was initially launched on the network Ethereum under the name AGI. In May, it was renamed to AGIX, compatible with Cardano.

The company is led by the pioneer of artificial intelligence Ben goertzel, who is famous for collaborating with the development of the humanoid robot Sophia while working as the company’s chief scientist Hanson robotics, based in Hong Kong.

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Talking about the launch of the bridge, Goertzel stressed that the development represents another step towards the migration of AGIX to the network Cardano while offering users a possibility to explore cross-chain capabilities.

The importance of this port to SingularityNET and all blockchain and AI ecosystems cannot be overstated: it will not only produce a much faster and cheaper AI network, but also a vastly superior foundation for adding new advanced features to SingularityNET and moving towards realization of our vision of decentralized AGI.

For its part, IOHK said in its statement that the launch of the testnet is part of the interoperability mission of Cardano and “Marks a major step forward in driving blockchain interoperability to establish a functional environment for decentralized finance (DeFi)“.

In September this year, the blockchain Cardano integrated with the humanoid robot Grace, from SingularityNET, listed as the first robotic artificial intelligence designed to serve older adults.

To learn more about the new ERC-20 converter bridge from Cardano, you can check the IOHK publications and SingularityNET. The latter also published an explanatory video about the operation of the tool, which you can see below:

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Article by Hannah Estefanía Pérez / Daily bitcoin

Image from Unsplash

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